Stephen Elop to Receive $25.4 Million

Package Comes as Result of Sale of Devices Business to Microsoft

By

Sven Grundberg

Updated Sept. 19, 2013 3:29 p.m. ET

STOCKHOLM—Departing Nokia Corp. Chief Executive Stephen Elop is set to receive a compensation package estimated by the Finnish company to be about €18.8 million ($25.4 million), as a result of the $7.2 billion sale of Nokia's devices business to Microsoft Corp.

Mr. Elop has been widely speculated to be a potential successor to Microsoft's current CEO, Steve Ballmer. He took Nokia's helm in September 2010 after a career with...